I don’t think they will for the reasons already mentioned. I don’t think the initial investment is bad considering career total income possible. All one needs is to get to commercial then they can get flying jobs to ATP mins. I started flight instructing at 19 and by 20 was flying a 400 series Cessna for aerial mapping. ATP mins came quickly while getting paid good enough to get by.
9/11 and the following timing wasn’t great and I made the switch to ATC. Worked out well for me but I still find myself wishing sometimes I had bit the bullet and stuck with it. As mentioned, very cyclical industry. Year you were born matters as much (possibly more) as skill/experience.
Reference
@OneCharlieTango and
@Tantalum discussion on generational differences, I’m on the X/Millennial bubble being early 40’s…I’d trade money for time off. How much does one really need to stuff in their casket?